Home maintenance costs $4,000 to $22,000 per year on average. However, these costs can vary significantly depending on the home's location, size, age, features, and condition. Most experts recommend budgeting at least 1% to 4% of the home's value each year to cover routine home maintenance tasks. Some financial advisors also suggest that you save an extra 1% to 3% in separate emergency fund for those unexpected major repairs or replacements that are inevitable over time.

Home maintenance is not typically tax deductible. You may be able to deduct a portion if you do business out of your home and have a dedicated office space or rent out part of your home. Home improvements that add value and major replacements may also be tax deductible. Reach out to a local tax consultant to clarify your options.

Most homeowners insurance plans do not cover routine home maintenance. Homeowners insurance is designed to cover repair expenses that result from a covered event, such as a fire, hurricane, or theft.

For maintenance costs related to normal wear and tear of your home appliances and systems, a home warranty costs $420 to $1,300 per year or about $35 to $90 per month, plus a $75 to $125 service visit fee, depending on the level of coverage you choose. Home warranties tend to have a lot of exclusions, so be sure to read through all the terms and conditions before purchasing so you understand exactly what it covers.

When searching for home maintenance services near you, be sure to:

• Confirm the company is licensed and insured in your state.
• Confirm they are experienced in the specific type of maintenance you need. You can also search HomeGuide for companies with maintenance specializations, such as boiler maintenance services, furnace maintenance services, garden maintenance services, and lawn & landscape maintenance.
• Check out customer reviews on HomeGuide and Google.
• Select a high-rated company that's been in business for 5+ years.
• Ask for a written estimate with a detailed breakdown of all material and labor costs.
• Get a contract and warranty in hand before they start working.
• Don't pay in full before the job is complete.

A qualified contractor, handyperson, technician, or any other trained maintenance professional should be happy to answer the following questions and any other questions you have when evaluating your options:

• Are you licensed, insured, and bonded?
• How long have you been in business?
• Do you have experience with the type of maintenance work I need?
• Can you provide a list of references from previous jobs?
• How much extra do you charge for emergency work outside of normal business hours?
• Do you offer an annual maintenance plan? What does it include and how much does it cost?
• Do you warranty your work?
• Does the estimate include all materials, labor, and cleanup fees included in this estimate?
• What other costs might come up after you start working?
• How long do you expect the job to take?